According to a report provided by Circle to Decrypt, the turnover of USDC stablecoins grew by 78% in 2024, and the number of token end users reached more than 500 million worldwide.

In November, monthly USDC transaction volume exceeded $1 trillion, and total stablecoin transaction volume exceeded $20 trillion. The weekly volume of transfers of the euro-pegged stablecoin EURC (EURC), which Circle operates jointly with the American crypto exchange Coinbase, has exceeded $1 billion.

According to Dante Disparte, head of strategic development at Circle, this indicates that the European cryptocurrency market continues to develop. Disparte emphasized that Circle is committed to complying with the MiCA and Canadian crypto asset listing rules. By bringing regulatory clarity to regulation, stablecoins will have an easier time integrating into the economy, Disparte added.

A Circle spokesperson said the company is partnering with MoneyGram and Chipper Cash to allow users to easily convert USDC to local currencies. Over $850 billion in fiat currencies have been transferred using USDC, and the stablecoin is now supported by 16 blockchains. For example, Circle’s Cross-Chain Transfer Protocol, which supports cross-chain transfers, has processed over $20 billion in USDC transactions.

Earlier, Circle CEO Jeremy Allaire said that stablecoins pegged to the US dollar could become legal electronic money in the US financial system.